BTGO (NYSE:BTGO) Sees Strong Trading Volume – Here’s Why

Shares of BTGO (NYSE:BTGO) saw an uptick in trading volume on Wednesday . 794,321 shares were traded during mid-day trading, a decline of 18% from the previous session’s volume of 971,019 shares.The stock last traded at $5.58 and had previously closed at $5.97.

Analysts Set New Price Targets

Several brokerages have recently commented on BTGO. Compass Point began coverage on BTGO in a research report on Tuesday, February 17th. They set a “buy” rating and a $17.00 price objective on the stock. Keefe, Bruyette & Woods raised BTGO to a “hold” rating in a research note on Tuesday, February 17th. Citigroup reduced their price target on shares of BTGO from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Craig Hallum assumed coverage on shares of BTGO in a research note on Tuesday, February 17th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Weiss Ratings assumed coverage on shares of BTGO in a report on Wednesday, April 15th. They issued a “sell (d)” rating for the company. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.14.

BTGO Stock Down 2.3%

The stock’s 50-day moving average is $9.48.

BTGO (NYSE:BTGO) last issued its earnings results on Wednesday, May 13th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.55). The company had revenue of $3.77 billion for the quarter. The firm’s revenue was up 112.6% compared to the same quarter last year. As a group, equities analysts expect that BTGO will post -0.28 earnings per share for the current fiscal year.

About BTGO

BitGo Holdings Inc is the digital asset infrastructure company delivering custody, wallets, staking, trading, financing, stablecoins and settlement services from regulated cold storage. BitGo Holdings Inc is based in NEW YORK.